An Ever Evolving Technology - The Film Industry

The film industry has come along way from the days of black and white films. The films that we watch are not just in color, but they are the characters are now jumping out of the big screen and right into your lap with 3D technology. 3D technology has changed the way we watch movies because it allows people to feel like they are apart of the film. 3D is a great technology to use in film, but only if it is used on the right films. Films like Avatar, Transformers, and some animated films can be successful at the box office, but movies like Happy Feet Two, The Lion King, and Step Up 3D does not need 3D technology. Many people are sick of 3D and have been complaining about 3D’s less sharp picture quality, shaky effects that cause headaches and nausea, and skyrocketing ticket prices (2011). If 3D technology is added to the right film and the picture quality and does not have shaky effects then people may not mind paying to see a great quality movie.

As technology continues to advance, so will the way we watch film in movie theaters. The new 4D technology is now being tested. A 4D film is a 3D film with physical effects in the theater. CJ 4D Plex has tested this technology in Korea with the movie Avatar. The company incorporated shaking seats, the smell of explosions, water mists, and flashing lights. These screenings have attracted 50% more people that the regular screenings (Lussier, 2011). I believe if 4D movie theaters make its way to the United States, people will have the experience of a lifetime.

Film distribution has also come a long way from just being distributed through movie theaters. We can now watch movie OnDemand. Movies can now be streamed through your computer, iPod, iPhone, Blu-Ray Players, and video games systems. Soon movies may be sent fresh from the box office to your living room. According to Russ Fischer studios could broadcast new or recently released movies to cable and/or satellite subscribers, essentially creating a new release window prior to DVD release. In some cases, this might be the same day as the theatrical.  If this happens people may not worry about going to the movie theaters to watch film when they can watch in the comfort of their own home. This can cause movie theaters to become obsolete. I personally love going to the movie theaters because it gives me a chance to get out of the house and socialize. Hopefully movie theaters will me around for a while.

Reference

Anonymous (2011) Can Transformers save 3D films? Retrieved on November 14, 2011 from http://theweek.com/article/index/216904/can-transformers-save-3d-films

Fischer, R. (2010) FCC Will Allow Movie Studios to Broadcast Directly to Your Home; What Does This Mean For Theaters. Retrieved on November 14, 2011 from http://www.slashfilm.com/fcc-will-allow-movie-studios-to-broadcast-directly-to-your-home-what-does-this-mean-for-theaters/

Lussier, G. 4D Movie Theaters Opening; Smell-O-Vision Being Developed. Retrieved on November 14, 2011 from http://www.slashfilm.com/photos-4d-movie-theaters-opening-smellovision-developed/

Alternative Funding Sources

As entrepreneurs prepare to embark on their journey of becoming successful, it is not only important for them to research their industry it is also important for them to research every funding source they can. Researching multiple funding sources will help them locate their best funding options.

The first website I chose for this blog is aeoworks.org  (AEO) or Association for Enterprise Opportunity. The AEO is a national membership organization and voice and voice of microenterprise development in the United States. This company has helped over two million entrepreneurs support themselves and their families through business ownership. The site provides entrepreneurs with information on microenterprise development organizations in their area, sets them up with a mentor, and the site allows the future business owner promote their services and products when the business is established.

The initiative of AEO is to promote interest and awareness of their members and the impact of the entrepreneurs. The Catalyst Initiative identifies, supports, and pilots opportunities to increase the capacity of microenterprise development organizations to accelerate and expand the impact of microenterprise in the U.S.  The Capacity Building in the Southeast increases the efficiency and effectiveness of advocacy operations and state and national levels, And the Green Economy fosters a network to support members as they capitalize on the “green opportunity; identifying new “green” opportunities with and for their members and partners.

The second website I chose is Community Development Venture Capital Alliance  (CDVCA). CDVCA provides equity capital for businesses in underinvested markets.  CDVCA invest in companies in economically distressed areas in the United States and around the world. CDVCA requires for companies to have strong management, impressive growth potential, and the promise of high financial returns. CDVCA also looks to see if the company will create jobs and the impact their investments will have on low income communities. This site provides entrepreneurs will tons of information such as: events, consulting services, their public policy, the different programs they offer, and federal initiatives.

Alternative funding are great ways for entrepreneurs to get financing when the banks will not lend money, but there are some disadvantages too.  Some of the disadvantages are offering collateral, have high interest fees, offer a stake of the company. Conducting research will assist you in finding the best funding option for your company.

References

Anonymous (2011) The Community Development Venture Capital Alliance (CDVCA). Retrieved on November 5, 2011 from http://www.cdvca.org/

Anonymous (2011) Association for Enterprise Opportunity (AEO). Retrieved on November 5, 2011 from http://www.aeoworks.org/

Anonymous (2011) Alternative Funding Sources for Small Businesses. Retrieved on November 5, 2011 from:http://smallbusiness.intuit.com/news/Expansion/growth-of-business/18887918/Alternative-Funding-Sources-for-Small-Businesses.jsp

Expert Views on the Value of Business Plans Part II

For the second part of my blog I will discuss what I have learned from the two industry experts I chose. The two industry experts I wrote about were Russell Simmons and Ron Conway. These two experts gave great insight on what they look for in entrepreneurs and business plans. Russell likes to make sure the entrepreneur know the industry they want to work in. Russell not only looks at the business plan that is presented to him, he also looks for the enthusiasm, creativity, determination and humbleness for the future entrepreneur. Ron Cook also looks for passion in the entrepreneur, he wants to see if they are excited about the industry they are going in, if they know they industry, and if they are ready to be dedicated to their company. He looks for the creativity in the way the presentation is being presented to him

After reading what Russell Simmons and Ron Cook looks for in a business plan looks for in a business plan I will ensure I know my industry very well, have a great backstory as to why I’m passionate about my business plan, and let my passion, enthusiasm, and creativity exude through my plan and presentation. I will show them that I know my industry but not act like I know more than they do.

The sections I consider to be the most important to the investor that is reading my plan are the financials, industry analysis, technology section, and the management section. The financial section is important because it shows the predicted future revenue of the business, and the start-up cost. The industry analysis is important because it shows the investor that you know I know the industry I am trying to enter and the trends. The technology section is important because it show that I know what type of equipment I will need to make my company successful. And the management section is important because it gives background and skills information of the management team, consultants, and advisory board

Expert Views on the Value of Business Plans

A well-written business plan is very important to have when starting a business and meeting with investors.  A business plan is an entrepreneur’s calling card because it outlines who they are, their purpose, and vision. Having a clear business that explains your goals and vision will help persuade investors to help you on your journey to success. The two business experts I chose to write about are Russell Simmons and Ron Cook.

Russell Simmons is an entrepreneur, and philanthropist. He began his career by promoting New York City musicians in his early 20s. He created Def Jam Records with Rick Rubin and signed major artist such as LL Cool J, Run-D.M.C., Public Enemy and the Beastie Boys (Anonymous, 2011). He is considered on of the founding fathers of Hip-Hop. Russell Simmons owns a communications firm called Rush Communications, which includes an advertising agency, magazine agency, management company, and television production studio.

Russell Simmons has helped many entrepreneurs become successful in the entertainment industry. When meeting entrepreneurs Russell Simmons looks for the creativity, resilience dedication and hard work the entrepreneur is willing to put in to make their dream a reality. Russell Simmons believe ideas without effort is worthless. He looks at the enthusiasm, and determination in the eyes of the entrepreneur (Black, 2011).

Ron Conway has been an angel investor for over 15 years and has invested in more than 650 startup companies. He is known as The Godfather of Silicon Valley because he placed more bets on Internet start-ups than anyone else in Silicon Valley (CrunchBase, 2011). He was the Founder of Angel Investors LP Funds from 1998-2005, and he has invested in many Internet businesses such as Google, PayPal, Ask Jeeves, Twitter, Zappos, Digg, Facebook and many other successful Internet companies.

When meeting entrepreneurs, Ron Conway looks for the passion the entrepreneur has and he can tell if the person is very passionate about their business (Cook, 2011). While the entrepreneur is talking about their vision Ron Conway is looking at their personal characteristics. Passion is a key component that investors look for because it shows how bad you really want to start your business, and your love desire, and drive for what you want to do.

Seems like Russell Simmons and Ron Conway looks at the person presenting the business plan more than they would look at the business plan. They look for passion when the person talks about their dreams and vision for their company. I will definitely exude my passion for my company when I meet with investors because first impressions are lasting impressions. As investors go through the business plan it is important to have key sections stand out because an investor does not have all day to read business plans. Business plans are blueprints that outline how you want your business to be, and future outlooks for the business, it is important to conduct research and know your industry.

Reference

Anonymous (2011) Russell Simmons Biography – Facts, Birthday, Life Story. Retrieved on September 28, 2011 from http://www.biography.com/people/russell-simmons-307186

Anonymous (2011) Ron Conway’s Biography Retrieved on September 28, 2011 from http://www.crunchbase.com/person/ron-conway

Black, T. (2011) What Makes Russell Simmons So Successful. Retrieved on September 28, 2011 from http://www.inc.com/articles/201109/russell-simmons-interview.html

Cook, J (2011) Super Angel Ron Conway’s Advice To Entrepreneurs And Why This Isn’t A Bubble. Retrieved on September 28, 2011 from http://www.geekwire.com/2011/super-angel-ron-conway

Film Promotions and Social Media

Facebook, Twitter, YouTube, and an array of other social media sites have been on a steady incline over the past five years.  This increase has lead to many directors, producers, and studios taking full advantage to reach out to the multitudes of users and their friends to advertise and market their projects without a high overhead.  In most cases, the use of these media outlets can help to substantially reduce an advertising budget.  The reduction in the budget allows companies to focus additional revenue towards making a better product.

Matthew Cherry, of Transparent Filmworks, has become an industry pioneer in using social media outlets as his main source of advertising and introducing his company to potential investors.  Before resorting to traditional media such as radio and television, Matthew seeks to utilize a strong social media campaign for his projects. Typically, these campaigns are geared towards the sites that he is using.  Matthew uses Facebook Twitter to tweet and write about how production is going for feature projects. He allows his Twitter and Facebook friends and fans to view and be apart of the casting process by live streaming on USTREAM. Matthew does not only promote his films on social media sites, he also encourage future filmmakers to not give up on their dream, and also gives insight about the process it takes to create a feature film. Matthew has gained a huge following on Facebook and Twitter by sharing his projects.

As a pioneer in perfecting this art of film promotions, Matthew has set the bar and serves as an excellent model to follow to ensure ways to reach millions of people without spending million on advertising.  In an era where every penny counts towards something, Matthew is showing us that these pennies can become substantial dollars that a company can invest into other projects.  

Social media plays a crucial part in the success of a film because media marketing is becoming one of the main marketing strategies used to attract viewers to different film projects. Social media sites create new opportunities for exhibition for independent filmmakers, by allowing them to show and promote their short film projects. 

Source: http://www.youtube.com/watch?v=MUoiT2Kp1I0&feature=related

The Evolution of Marketing for Film

The days of radio ads and newspaper ads as the main form of marketing are long gone.  Now, we live in an era of blog sites, Internet advertising, social networking sites, and corporate websites as the leading forms of marketing.  If your company leadership isn’t well versed in digital marketing techniques, your company and its possibilities of great fortunes can be left behind the rest of the corporate world.

Digital marketing has helped many movies break the box office. Movies are advertised as backgrounds on blog sites such as TMZ, there will be a page set up for the film on Facebook, MySpace, and other social networking websites, trailers are posted on YouTube and other websites, and promotional website is set up for the film to draw interest. Hollywood studios knows how to reach an audience and using digital marketing has helped them to get attention to their films.

Avatar is a great example of how digital marketing helped this movies break the box office records. August 21, 2009 will go down in history because it was celebrated as Avatar Day. On this day 100 IMAX 3-D theaters worldwide watched 16 minutes of a new movie James Cameron was debuting, that movie turned out to be Avatar. Also, on this day Ubisoft debuted a trailer for the videogame based on the film, and Mattel introduced action figures based n the movie (Mendoza, 2010). This aggressive marketing campaign helped develop support for the film.

Social Media Marketing

Social media has helped Avatar’s marketing team reach millions of people. The marketing team used Facebook, MySpace, and Twitter to build interest in and spark conversation about the film. The Avatar Facebook page had over 1.3 million fans, the film’s MySpace page had 800,000 friends, and the film’s Twitter page had over 25, 000 followers (Mendoza, 2011). I have never seen a film draw this much attention on social media sites. Once the marketing team saw the success of the social media sites the media strategy moved on YouTube and Flickr, the two websites had a combined total of 12 million video and photo views. Marketing for Avatar did not stop at social media sites; interactive trailers were made where viewers can be apart of the film.

The type of digital marketing strategies that were used for Avatar helped the film become the biggest blockbuster movie of all time. Avatar grossed over $77 million during its opening weekend, and over $2 billion worldwide.

When I produce my first blockbuster movie I will utilize every aspect of digital marketing because I will not only reach millions of people around the world. I can also create interactive trailers, games, and websites that will give the audiences an experience of their life.

Mendoza, N. (2010) How Digital Marketing Helped 'Avatar' Break the Box Office. Retrieved on July 3, 2011 from http://www.pbs.org/mediashift/2010/02/how-digital-marketing-helped-avatar-break-the-box-office039.html 

Mandy.com: A Great Resource For Filmmakers

A great website that was posted in the Google Docs assignment was Mandy.com.  I chose this website because of the various services the site offers to filmmakers. This website offers production jobs, casting calls, classified ads, vendors, and a film market in various countries. This site is a great place for filmmakers to seek distribution and buyers for their film projects.

A service that is offered by the website is a listing of over 96,000 producers, technicians, facilities, etc..  This service makes it easy for the consumer to locate and secure different staff members needed to produce an adequate production.  The fact that it lists all the different services needed in one location helps the consumer to eliminate the search process to locate someone to fill these needs.  The time saved could ultimately result in the ability to produce better products and more products in a given time period.

The site also offers the consumer access to a venue to sell their used equipment or purchase equipment that they may need.  This allows the consumer to search through a trusted reliable source.  It eliminates the unknown of dealing with people that are not credible.  Because the sites check out potential clients, it gives consumers a sense of comfort, and saves them numerous amounts of time.

The site also offers casting calls listings for actors. This allows the actors to check for casting calls in the United States for different types of productions for television, film, theatre and radio. The casting listings are available for SAG, AFTRA, and Non-Union actors. This site gives actors knowledge of potential jobs before any other site. The site also gives information about acting classes, digital arts classes, and film festivals.

Mandy.com is a site I would utilize to search for distributors, talent, and crew, and to purchase some equipment I may need for projects.

Anonymous (2011) Mandy.com: International Film and Television Resources. Retrieved on June 17, 2011 from http://www.mandy.com/